How Do I Set Accruals?
At Vacation Tracker, we understand that many companies are required to calculate employees’ leave amounts using an accrual system. Don’t worry, there’s no need to crunch numbers on your own time, our system will do that for you 😊
You can configure the accrual settings within the Locations section of the online dashboard. This feature will allow Admins to choose the frequency of the days accrued based on the number of days entered in the Yearly Leave Quota section.
The calculation of accruals will start based on the employees’ listed start date, and our system will automatically prorate their amount of leave they are entitled to!
Now let’s help you set those accruals:
Go to app.vacationtracker.io/signin to log in to the online dashboard
Select Settings
Select Locations
Choose the location that you’d like to add the accruals feature to
Select the Leave Policies tab
Select the Edit icon on the right hand side of the Leave Type
You can also set the accruals when creating a new leave policy
Within the Accruals section of the Leave Policy window, you will be able to set the frequency of the accrued days.
Please make sure that there is an amount in the Leave Quota section so that our system can calculate the amounts for you
You will be able to select one of three of the following accrual options: Monthly, Semimonthly, and Bi-weekly :
If you select the Monthly or Semimonthly options, our system will then give you a breakdown of the most recent accrual period, the date of the next accrual, and how many days will be earned:
If you select the Bi-weekly option, you will be able to choose the day that you’d like the accrual to occur on. Our system will then calculate the amount of days that will be accrued, and when the users will earn those days:
Once you select Update, the accrual settings will be saved for that leave type within that location and the users will start earning days 😊
Please note that once the Accrual settings are configured, they cannot be changed. Please contact our Support Team to assist you if any changes need to be made to these settings.
This feature is part of our Complete Plan. For more information, please visit our Pricing Page https://vacationtracker.io/plans-and-pricing
For more information on allowing users to request their earned leave in advance, please see: Can users request their accrued leave in advance?
For more information on allowing users to earn their accrued amount at the beginning of the accrual period, please see: Can my users earn their accrued amount at the beginning of the accrual period?
You can configure the accrual settings within the Locations section of the online dashboard. This feature will allow Admins to choose the frequency of the days accrued based on the number of days entered in the Yearly Leave Quota section.
The calculation of accruals will start based on the employees’ listed start date, and our system will automatically prorate their amount of leave they are entitled to!
Now let’s help you set those accruals:
Go to app.vacationtracker.io/signin to log in to the online dashboard
Select Settings
Select Locations
Choose the location that you’d like to add the accruals feature to
Select the Leave Policies tab
Select the Edit icon on the right hand side of the Leave Type
You can also set the accruals when creating a new leave policy
Within the Accruals section of the Leave Policy window, you will be able to set the frequency of the accrued days.
Please make sure that there is an amount in the Leave Quota section so that our system can calculate the amounts for you
You will be able to select one of three of the following accrual options: Monthly, Semimonthly, and Bi-weekly :
If you select the Monthly or Semimonthly options, our system will then give you a breakdown of the most recent accrual period, the date of the next accrual, and how many days will be earned:
If you select the Bi-weekly option, you will be able to choose the day that you’d like the accrual to occur on. Our system will then calculate the amount of days that will be accrued, and when the users will earn those days:
Once you select Update, the accrual settings will be saved for that leave type within that location and the users will start earning days 😊
Please note that once the Accrual settings are configured, they cannot be changed. Please contact our Support Team to assist you if any changes need to be made to these settings.
This feature is part of our Complete Plan. For more information, please visit our Pricing Page https://vacationtracker.io/plans-and-pricing
For more information on allowing users to request their earned leave in advance, please see: Can users request their accrued leave in advance?
For more information on allowing users to earn their accrued amount at the beginning of the accrual period, please see: Can my users earn their accrued amount at the beginning of the accrual period?
Updated on: 16/02/2024
Thank you!